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ACCOUNTS RECEIVABLE (Notes)
 12 Months Ended
Jun. 30, 2013
Receivables [Abstract]  
Accounts Receivable
ACCOUNTS RECEIVABLE
 
Accounts receivable includes unsecured trade receivables due from customers.  In addition, at June 30, 2013, accounts receivable included $8,500,000 of proceeds from the settlement of the lawsuit against a third party (see Notes 2 and 20).

The Company performs credit evaluations of its customers and does not require collateral to establish an account receivable.  The majority of open accounts, excluding primarily Wal-Mart, are covered by credit insurance. Accounts receivable from our two largest customers represented 20.5% and 31.4% of gross trade accounts receivable as of June 30, 2013 and 2012, respectively.

The Company evaluates collectibility of accounts receivable based on a number of factors.  Accounts receivable are considered to be past due if unpaid one day after their due date.  An allowance for doubtful accounts is recorded for past due receivable balances based on a review of the past due item, general economic conditions and the insurance coverage in place.  The Company writes off accounts receivable when they become uncollectible.  There were no recoveries of previously written-off accounts receivable during fiscal 2013 or fiscal 2012.  Changes in the allowance for doubtful accounts were as follows:

Fiscal Year Ended
June 30,
 
Balance,
beginning
of year
 
Provision
charged to
expense
 
Amounts
written-off
 
Balance,
end of year
2013
 
$
31,559

 
13,561

 
(1,715
)
 
$
43,405

2012
 
$
278,828

 
135,320

 
(382,589
)
 
$
31,559



The vast majority of international customers, outside of Canada, are sold to on a cash against documents or cash in advance basis. Approximately 16% and 32% of the Company's trade accounts receivable at June 30, 2013 and 2012, were foreign receivables denominated in U.S. dollars.